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What is PF Withdrawal Form or EPF Withdrawal Form
A Provident Fund withdrawal form, formally known as a PF withdrawal form, is a document which allows concerned individuals to access the funds accumulated in accounts related to EPFO schemes.
The list of schemes is – Employee Provident Fund (EPF), Employee Pension Scheme (EPS), and Employees Deposit Linked Insurance (EDLI) Scheme. These schemes are facilitated by the Employees’ Provident Fund Organisation (EPFO), an organisation under the governance of the Ministry of Labour and Employment.
During employment, both the employee and the employer are required to contribute equally to EPF or Employees’ Provident Fund Scheme. The employee’s contribution is deducted as a percentage of their basic salary plus dearness allowance.
The purpose of EPFO at large, and the schemes in specific, is to encourage the creation of adequate funds during an individual’s employment, which shall function as a source of financial assistance post-retirement. Individuals can also utilise their accumulated corpus to meet specific financial obligations. There are different types of EPF withdrawal forms equating to varying purposes of fund withdrawal.
Types of PF Withdrawal Forms Available?
The different types of PF withdrawal form are –
- EPF Form 10C
The form can be used by members to apply for withdrawal benefits or EPS certificate while retaining membership with the Pension Fund. Retention of membership shall allow individuals to enjoy the benefits of the Pension Fund later.
The following categories of members are eligible to withdraw funds from their Pension Fund using EPF Form 10C –
- Has discontinued his/her job before completing 10 years of service.
- Has not completed 10 years of service but attained the age of 58.
- Legal heir or nominee or family member of a deceased individual who did not complete 10 years of service but had attained 58 years of age.
The following category of members is eligible to apply for EPS Certificate –
- Has completed 10 years of service before reaching the age of 50 years.
- Is above the age of 50 years but below 58 years and is not agreeable to receiving a pension at a reduced rate.
- EPF Form 10D
It is used to apply for monthly pension benefits by individuals who have retired. It shall be filed by the legal claimant, i.e. the member or their legal heir/nominee in case of a deceased member.
Individuals need to complete 10 years of service in the formal sector before being eligible to receive monthly pension benefits.
It is crucial to note that individuals who have not attained 58 years of age are eligible to receive a pension only at a reduced rate; whereas, individuals who have reached 58 years can enjoy full pension benefits.
However, if an individual has retired due to a physical disability, they are eligible to receive full pension benefits even if he/she has discontinued the service before completing 10 years.
- EPF Form 19
This EPF withdrawal form is used to apply for final settlement of the accumulated corpus in a member’s EPF accounts. Individuals who have retired or left their jobs can apply for settlement with this form. One can apply with an EPF withdrawal form online; however, a primary requisite is that such member shall at least be unemployed for 2 months.
- EPF Form 5
Companies that are registered under the Employees’ Provident Fund Scheme have to compulsorily fill this form and submit it by the 15th of every month. It shall contain details of employees of such companies who have been newly enrolled under the EPFO schemes. In case no new employee has joined, such employer shall notify it in the form with a “NIL”.
- EPF Form 15G
In case an individual withdraws funds from their EPF account before completing 5 years of service with an existing company, then such organisation shall deduct tax at source from the proceeds of the withdrawal. Nevertheless, if such person’s total income including the provident fund proceeds does not exceed the minimum tax slab, i.e. there is no tax liability, then such individual can file an EPF Form 15G to declare the same, following which the organisation shall not deduct any tax.
- EPF Form 11
This new PF withdrawal form contains an employee’s details such as bank account number, EPF and EPS account number, etc. An employee shall file it through his/her existing employer and acts as a declaration of their EPFO membership. When individuals change jobs, they can present this form to their new employer, thus enabling such new organisations to obtain all the pertinent employee details. Following this procedure, the balance from their previous EPF and EPS accounts are transferred, and EPFO is notified of such individuals’ change in employment status.
- EPF Form 31
This PF withdrawal form online is used for partial withdrawal of funds from a member’s EPF account. Nonetheless, partial withdrawal using Form 31 is only allowed under the following circumstances –
- An applicant has retired.
- Such an applicant is unemployed for 2 months or more, which is further certified by a gazetted officer.
Only under these circumstances, shall an individual use Form 31 to make partial withdrawals from their EPF account. Other than that, partial withdrawal is allowed only if certain conditions are met. These are enumerated in the table below.
|Purpose||Limit of Withdrawal||Years of Service (Criterion)||Additional Conditions|
|Marriage||50% of employee contribution to EPF||7||Marriage of self, children, or sibling|
|Education||50% of employee contribution to EPF||7||Further education of self or child’s education post 10th standard|
|Home renovation||12 times the monthly wages||5||Home in question shall be in the name of the employee or his/her spouse or both|
|Immediately before retirement||90% of the balance in EPF account||Once the individual attains 57 years of age||Nil|
|Repayment of home loan||90% of both employee and employer’s contribution||10 years|
|Purchase of land or house or construction of a house||5 years||The land or house in question shall be in the name of the member or his/her spouse or both|
- EPF Form 14
The form is used to apply for a financing facility, wherein an individual’s LIC policy premiums are paid from that member’s EPF account.
Individuals applying for this facility shall attest this form with their employer and furnish it to the respective EPF commissioner.
- EPF Form 19
Individuals who decide to close their existing EPF account shall use this PF withdrawal form to apply for claim settlement of their provident fund balance. It shall be noted that such an application is only legitimate when the concerned individual has remained unemployed for 2 months or more.
- EPF Form 2
This PF withdrawal form acts as a declaration and nomination certificate, wherein details of the nominated individual shall be furnished. The nominee shall be authorised as the first claimant in the event of an employee’s death.
- EPF Form 20
In case of death of an employee, his/her nominee or legal heir shall use this PF withdrawal form to claim a final settlement of the deceased member’s EPF account.
- EPF Form 5(IF)
In the event of the death of an employee during service, his/her legal heir or nominee shall apply for insurance benefits offered under Employees’ Deposit Linked Insurance (EDLI) using EPF Form 5(IF). It shall be attested by the respective employer or a gazetted officer.
These are the different types of PF withdrawal forms in India. Individuals might need to furnish other relevant documents during an application, which shall be intimated by the concerned official.
Application for withdrawal can be made either physically or online. To apply physically, one shall download the composite claim form (Aadhaar or Non-Aadhaar), duly fill it and submit to his/her nearest EPFO office.
To apply online, one can visit the EPF portal. It is essential to note that an individual needs to hold an active UAN, which shall KYC compliant to apply online.
1 – How to finance a LIC Policy with the balance from the EPF account?
An individual can pay the premiums for their LIC policy with the balance in his/her PF account by submitting Form 14.
2 – How to declare a nominee for a PF account?
To declare a nominee, one must furnish that nominee’s details in PF Form 2.
3 – Is it possible to partially withdraw funds from a PF account without being unemployed for 2 months or more?
No, making partial withdrawals from an EPF account is not allowed when one has not been unemployed for at least 2 months.